November 2, 2022 – Seoul, Korea
NFTBank has been chosen by Metamask, the main Net 3.zero pockets, to energy pricing data for over 5,000 NFT collections owned by Metamask customers.
NFT pricing is a posh difficulty ot solely is each NFT distinctive however gross sales transaction information can also be extraordinarily restricted. NFTBank has sought to sort out this difficulty from the earliest days of NFTs. The years of labor led to a sophisticated machine learning-based statistical algorithm to supply worth estimates for particular person NFTs with over 90% accuracy.
It makes use of data equivalent to flooring worth, rarity and bid/ask distribution to compute a single worth worth for any given NFT in a set. NFTBank presents pricing data for over 5,000 NFT collections and makes them obtainable each with APIs and its personal devoted app.
Whereas the NFT phenomenon clearly established itself in 2021, infrastructure for NFT holders remains to be lagging. For instance, whereas customers can see their transactions and portfolio worth for ERC-20 tokens, that is a lot more durable for NFTs.
Recognizing the significance of NFT worth data for its customers, Metamask is launching a brand new NFT portfolio product that higher informs its customers of their NFT holdings and their worth and determined to make use of NFTBank’s worth estimate as the worth customary.
Because of Metamask’s upcoming NFT portfolio expertise, NFT holders can see their NFT portfolio’s worth at a look, powered by NFTBank’s ML-based worth estimates.
Daniel Kim, CEO of NFTBank, mentioned,
“The necessity for understanding the suitable worth of NFTs has develop into ever extra clear with many studying the dramatic volatility of NFT markets the laborious approach and concurrently studying the potential of NFTs as a brand new digital asset class. NFTBank’s NFT worth information will likely be powering Metamask’s new NFT integration, serving to customers to make knowledgeable choices on their portfolio.”
Kai Huang, product supervisor of MetaMask Portfolio DApp, mentioned,
“MetaMask continues to supply a wealthy NFT expertise, and enabling pricing data for our customers throughout the portfolio DApp is one other step ahead. Starting at this time, our customers can get real-time worth updates and values concerning the NFTs they’ve acquired throughout all accounts to allow them to make knowledgeable choices.
“NFTBank has confirmed itself as the perfect companion to allow this characteristic due to its refined machine-learning fashions and powerful infrastructure capabilities that may help MetaMask’s scale with a purpose to present a constant expertise for tens of millions of MetaMask customers.”
NFTBank has already develop into the NFT valuation answer for key tasks within the scene equivalent to Chainlink, NFTfi, Pine, Stater and Unlockd Finance. NFTBank is supported by Hashed, DCG and different companions and buyers.
About NFTBank
NFTBank is an NFT portfolio administration instrument and valuation engine, permitting customers to make knowledgeable choices about their NFT portfolio and allow superior DeFi use circumstances.
NFTBank’s ML-powered NFT valuation engine covers over 5,000 tasks with excessive accuracy. You’ll find extra details about NFTBank here.
Contact
Jen Kim, head of product at NFTBank
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